Solar Panel Cost Guide in Richardson, TX (2024 Update)
- Richardson Solar Installation Cost: $17,979
- 25-Year Savings: $23,956
- Payback Period: 11.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Richardson
Let’s take a look at the average cost of solar in Richardson.
The national average cost of solar panels is $2.66 per watt, but in Richardson it’s 3 per watt.Using this figure, a typical 7.7-kW system would cost about $17,979 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.With average savings of about $19,000 on energy bills over 20 years, many homeowners in Richardson find installing solar panels can be quite rewarding.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Richardson
| Year | Return on Investment |
|---|---|
| 1 years | $-16,442 |
| 3 years | $-13,367 |
| 5 years | $-10,292 |
| 7 years | $-7,217 |
| 9 years | $-4,143 |
| 11 years | $-1,068 |
| 13 years | $2,007 |
| 15 years | $5,082 |
| 17 years | $8,157 |
| 19 years | $11,231 |
| 21 years | $14,306 |
| 23 years | $17,381 |
| 25 years | $20,456 |
Top Solar Installers in Richardson
When making the switch to solar, many homeowners choose to go with a solar installation company since handling can be a time-consuming project. Plus, if you’re unsure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Richardson
Factors that Affect Solar Panel Costs in Richardson
Even though the average cost of a solar system in Richardson is $17,979, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,330 per kilowatt in Richardson.There are many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Richardson offer solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $15,388 | 12.1 years |
| 8 kW | $3.40 | $19,021 | $20,890 | 11.9 years |
| 10 kW | $3.33 | $23,310 | $26,579 | 11.7 years |
| 12 kW | $3.26 | $27,413 | $32,454 | 11.4 years |
| 14 kW | $3.20 | $31,329 | $38,516 | 11.2 years |
| 16 kW | $3.13 | $35,058 | $44,764 | 11.0 years |
| 18 kW | $3.06 | $38,601 | $51,199 | 10.7 years |
| 20 kW | $3.00 | $41,958 | $57,820 | 10.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which installer you should go with, since different companies offer different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Richardson, TX Solar Cost FAQs
What is the average cost of installing solar panels in Richardson?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Richardson?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.